Extreme Networks' (EXTR) Buy Rating Reaffirmed at Needham & Company LLC

Extreme Networks (NASDAQ:EXTR - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $20.00 price target on the technology company's stock. Needham & Company LLC's price objective would suggest a potential upside of 30.11% from the company's current price.

EXTR has been the topic of several other reports. Craig Hallum increased their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. B. Riley raised their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Rosenblatt Securities upped their price objective on Extreme Networks from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday. Finally, StockNews.com raised Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Extreme Networks has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

Extreme Networks Stock Down 2.8 %

EXTR traded down $0.44 during trading on Thursday, reaching $15.37. The stock had a trading volume of 666,133 shares, compared to its average volume of 978,593. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -16.40, a P/E/G ratio of 3.44 and a beta of 1.73. The stock's 50 day moving average is $17.18 and its two-hundred day moving average is $15.63. Extreme Networks has a one year low of $10.49 and a one year high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. As a group, analysts expect that Extreme Networks will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $16.06, for a total value of $80,300.00. Following the transaction, the director now directly owns 371,793 shares of the company's stock, valued at approximately $5,970,995.58. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently made changes to their positions in EXTR. Quarry LP purchased a new stake in Extreme Networks during the third quarter valued at approximately $26,000. GAMMA Investing LLC grew its position in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company's stock valued at $30,000 after acquiring an additional 1,035 shares during the period. Byrne Asset Management LLC purchased a new stake in shares of Extreme Networks in the 4th quarter worth $30,000. Pacer Advisors Inc. raised its holdings in Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock worth $52,000 after purchasing an additional 741 shares during the period. Finally, KBC Group NV lifted its position in Extreme Networks by 54.3% during the third quarter. KBC Group NV now owns 4,959 shares of the technology company's stock valued at $75,000 after purchasing an additional 1,745 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation. The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.